Wednesday, July 8, 2009

After graduating from the University of California, Berkeley with a degree in finance and accounting, Schiff acquired a position at the brokerage firm Shearson Lehman Brothers. Less than a decade later, in 1996, he purchased his own brokerage firm, EPC – originally a Florida-based firm, Schiff purchased and reincorporated in California.

Euro Pacific Capital, Inc. operates in accordance with Schiff’s economic views. Schiff is well versed in Austrian Business Cycle theory and applies this logic to many of the investment recommendations provided by EPC.

Schiff began making a name for himself in the public eye in 2006 when he made claim that the U.S. economy was headed for disaster, stating: “the U.S. economy is like the Titanic and I am here with a lifeboat trying to get people to leave the ship… … I see a real financial crisis coming for the United States.” He went further to predict a crash in the U.S. housing market that same year. His ideas on the financial crisis and investment strategies to cope can be found in his book, Crash Proof: How to Profit from the Coming Economic Collapse (first ed. Feb 2007, 2nd ed. , titled Crash Proof 2.0, Sept. 2009). While many commentators debated Schiff’s claims (some outright laughing at his suggestions), few can now disagree that Peter Schiff was right in his assertions.

Today Schiff continues to spread his ideas via tv appearances and his daily blog. Schiff is currently considering a challenge in the political arena, an endeavor which will put him against current Connecticut senator Christopher Dodd in the next election. Schiff most recently served as Ron Paul’s economic advisor during Paul’s 2008 Presidential campaign.

We honor Peter Schiff as a Hero of Capitalism for his commitment to liberty and freedom, and for his entrepreneurial contributions – EPC and Crash Proof – which work well to promote his ideas.